Subir Chakraborty, Managing Director and Chief Executive of Exide Industries, announced that the commercial production of the first phase of Exide’s lithium-ion cell manufacturing project in Karnataka is expected to commence by the end of the next financial year (2025). The Rs 6,000 crore 12GW lithium-ion cell manufacturing plant is progressing well, with Chakraborty mentioning lucrative incentives received from the Karnataka government. The company, while not qualifying for the PLI scheme, anticipates the growing demand for lithium-ion battery-based storage solutions, especially with the accelerating adoption of electric vehicles (EVs) in India. Exide Energy Private Limited (EEPL), the company’s packs and module subsidiary, has secured orders of nearly Rs 700 crore from leading EV players, providing strong sales visibility.